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1825 Chicago Avenue

IBorrow Provides $46.5M Refinance Loan For Industrial Portfolio In Riverside, Brockport, Phenix City, Horseheads, And Columbia
FINANCEDIndustrial

IBorrow Provides $46.5M Refinance Loan For Industrial Portfolio In Riverside, Brockport, Phenix City, Horseheads, And Columbia

1825 Chicago Avenue, 1955 Chicago Avenue, 1989 Transit Way, 901 Fontaine Road, 903 Fontaine Road, 200 Westinghouse Circle & 2340 Broad River Road

$46,523,136

Building Size

Asset Type

Industrial

Closing

Nov 30, 2023

AI

The industrial property located at 1825-1955 Chicago Ave, 1989 Transit Way, 901-903 Fontaine Rd, 200 Westinghouse Circle, and 2340 Broad River Rd has recently undergone a loan transaction in Riverside, CA, Brockport, NY, Phenix City, AL, Horseheads, NY, and Columbia, SC. The property was financed by iborrow-009a990f-662d-4769-811b-a9f1bfa01c65-duplicate''>iBorrow, with Brian Good and Emin Aboolian representing the lender. The loan amount for this refinance transaction was $46,523,136.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $46,523,136
  • Lender: iBorrow - Brian Good & Emin Aboolian
  • Landlord: ALTO Real Estate Funds - Yaniv Melamud, Mody Kidon, & Dor Dezalovsky
  • Brokers: Andrew N. Westling & Riley Manke - Walker & Dunlop

The key individuals and companies involved in this loan transaction include ALTO Real Estate Funds, represented by Yaniv Melamud, Mody Kidon, and Dor Dezalovsky as the landlords, and iBorrow represented by Brian Good and Emin Aboolian as the lenders. Walker & Dunlop, with Andrew N. Westling and Riley Manke as the brokers, facilitated this deal.

Players

Riley Manke

Walker & Dunlop

Broker

$89.4M

vol

3 deals

Broker
iBorrow
iBorrowLender
Mody Kidon

Mody Kidon

ALTO Real Estate Funds

Landlord

$96M

vol

5 deals

Landlord
ALTO Real Estate Funds
ALTO Real Estate FundsLandlord

Riverside Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.34%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93